When I sell holdings in Interactive Brokers, what's the best way to get the money into my Indian bank account? Can services like Wise or Skydo be used, and which route gives the best rate?
1 Answers
I have not done redemption yet.
We can use Wise, Skydo or a direct wire transfer to an Indian bank.
I got a negotiated rate of 10p from IDFC for inward, but that's for my private limited. I hope they provide the same rate for my individual account. The Bank Wire option would be used for this.
Skydo/Mulya/Xflow provides a US account number, so there, we can use the ACH option, but not sure if Skydo allows this type of remittance, as they ask for an invoice. They offer a 0.3% markup rate.
Transferring to Wise and then transferring to the Indian account would be costlier than a direct indian bank transfer (if you have a good negotiated rate) or Skydo.
